The Central Bank of Nigeria (CBN), on Monday, issued a circular granting foreign exchange waiver to five dairy companies to import milk into the country.
The companies which received forex waivers include FrieslandCampina WAMCO Nigeria; CHI Limited; TG Arla Dairy Products Limited; Promasidor Nigeria Limited; Nestle Nigeria PLC and Integrated Dairies Limited.
Promasidor’s Group Chief Executive Officer, Olivier Thiry, visited Governor Kayode Fayemi of Ekiti State to consolidate the pact on Ikun Dairy Farm which will serve as a source of local raw materials for the company’s milk production.
He was accompanied by top management of Promasidor Nigeria which includes the Managing Director, Anders Einarsson, Director, External Relations, Andrew Enahoro and Senior Manager, Finance, Yomi Adenson, who were on a two-day visit to the Government House in Ado- Ekiti on Monday, December 16.
The Federal Government has denied request by Guinness Nigeria Plc, Promasidor Nigeria Limited and thirteen other firms seeking tax relief, also known as “Pioneer status” under the Industrial Development Income Tax Act.
Pioneer status is a tax incentive from the Federal Government which exempts companies from income tax for a period of time. It is also known as a tax holiday and is meant to encourage investments in new industries or products that do not already exist in the country.
Milk producers in the country have said that foreign exchange restriction on milk imports would ultimately lead to higher prices of milk products for consumers.
“Of course, it will definitely affect prices. There is a difference of about N55 or N60 per dollar between the exchange rate on the black market and the interbank market,” said the General Manager, External Affairs, PZ Cussons, Mohammed Tahir at a dairy Congress in July.
Promasidor Nigeria Limited, makers of a wide range of dairy products including Cowbell milk, Loya milk, Miksi milk and others took its management on a working visit to Ekiti State to hold further discussions on the newly announced partnership between the company and the State Government with regards to backward integration and resuscitation of Ikun Dairy Farm.
Promasidor Nigeria Limited, makers of Cowbell and Loya milk have signed a partnership agreement with the Ekiti State Government as part of its backward integration initiative aimed at creating local sourcing of raw materials for its dairy products through the state-owned Ikun Dairy Farm.
The agreement was signed by Ekiti State Governor, John Kayode Fayemi and the Managing Director of Promasidor Nigeria Limited, Anders Einarsson, in Abuja on Tuesday.
Promasidor Nigeria Limited has restated its commitment to ensuring the safety of its employees and risk-free operations as it remains unwavering in adherence to health and safety requirements for organisational development.
This position was reinforced at the company’s safety day held last week under the theme “No Safety, Know Pain”, where stakeholders enlightened the workforce on health and safety measures, both at work and home.
Promasidor Nigeria Limited celebrated over 2,000 children from 50 schools in Lagos with funfair in commemoration of this year’s Children’s Day. The event, tagged Promasidor One Love Family Fest was held at the Ndubuisi Kanu Park, Alausa, Lagos, on Saturday, May 25, 2019.
The day kicked off with a fun run which was a mini marathon for children within the ages of 5-15 years old. The children were split into three different categories based on their age groups:
The head of Marketing at Promasidor Nigeria Limited, Mr Abiodun Ayodeji, has revealed that sales of its newly launched Sun Vita cereal has been strong, making it one of the most sought after brands by consumers.
Ayodeji disclosed this during an interview at the company’s head office in Isolo, Lagos.
Sun Vita cereal was launched into the market in December 2018, with 75% locally sourced material.
A group of multinational firms with operations in Africa have come together to launch the Africa Plastics Recycling Alliance in a bid to reduce the problem of plastic waste across the continent.
The companies – Diageo, Unilever, The Coca Cola Company, Nestlé and Promasidor unveiled the alliance at the CEO Africa Forum in Kigali, Rwanda.
